LIC System – LIST OF VALID STATUS CODE LIST IN POLICY MASTER

STATUS CODE

DESCRIPTION OF VALID STATUS CODES

11

First premium cheque dishonored. Policy is treated as cancelled.

12

Cancellation of policy during the cooling period.

21

Normal premium paying policy.

22

Critical illness benefit rider benefit settled but premium payment to continue

where CIR is taken without PWB.

31

Reduced paid up for assurance and annuity policies./ for ULIP and health insurance policies status 31 means premium is not paid within grace period./ under plan 114- Jeevan Aadhar when the dependent has died and life assured has opted for paid up continuation condition of policy with change in ‘

nominee-status’ field in nominee master and move appropriate death status for

the dependent.

32

Fully paid up./ under plan 111, 150- Bima Kiran, if all premiums for the term have been recovered/paid, then after paying maturity claim, for extended

term the status will move as 32./

33

Single premium policies.

41

Lapsed without surrender value.

42

Lapsed with guaranteed surrender value to be moved in case of health insurance plan where PI- principal insured has attained age 75 but unit liability

is still there.

43

Under ULIP plans, surrender of policy admitted, surrender payment to be made

on completion of 3 years from date of commencement.

 51

Auto premium loan.

61

PWB under CDA plans -In the event of death of proposer at least 1 year before the vesting date under an inforce CDA policy with PWB- premium waiver benefit, this status code will be used. The code will be changed to 21 at the

end of the deferment period.

62

EPDB benefit -Applicable to policies where premiums are waived on account of disability or extended permanent disability benefit.

63

CIR with PWB -Critical illness rider benefit has been settled under a policy accepted with combined critical illness rider and PWB- premium waiver benefit

and PWB is operative.

67

Discounted claim paid.

68

Duplicates/ purification off.

69

Risk suspended under the policy.

70

Death claim reported under a lapsed policy and nothing is payable.

71

Death claim is reported under a policy which is in paid up or in force condition.

72

Maturity claim pending/ intimated under individual assurance./ expiry of term

assurance./ expiry of deferement period under deferred annuities.

73

Maturity claim admitted, payment to be made in instalment as per settlement option/ jeevan suraksha plan on maturity./ LIC’s money plus plan-180 on maturity/ under ULIP plans- 172,181,191 where consequent to maturity,

annuity payments are opted by the nominee/ insured.

74

Death claim under plan 19,20,90 is admitted i.e fixed term marriage endowment and educational annuity death claim admitted./ in case of ULIP plans like -172,181,191- where consequent to death, annuity payments are opted by the nominee/ insured.